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Re: Scholarship Successor Advisors?
Andrea,
We have a scholarship Committee of aprox 100 people that read all the applications. We have a few scholarships that are grandfathered in for having an outside committee. We found that outside committees don't tend to follow the rules. So we really don't allow that anymore. Trying to keep the process simple with over 325 scholarships funds at one school. Successor advisors follow the terms and conditions of the original donors wishes. They can not change the name or take ay fund out. If for any reason the scholarship can no longer be giving out, then GLCF has variance power to make that change for them. We want to keep the younger generations involved with philanthropy. If you have any other question sp;ease feel free to call me 978-970-1600.
Janinne Nocco
Controller & Administrative Officer
Greater Lowell Community Foundation
100 Merrimack St., Suite 202
Lowell, MA 01852
(978) 970-1600 o * (978) 580-0275 c
janinne@glcfoundation.org
Re: Does anyone else have challenges with unidentified stock gifts?
We rarely have a problem with stock, unless it's from a donor not known to us. I tend to have this problem more with general gifts from the commercial DAF accounts that are ACH into our account and then the detective work starts, lol.
Re: Scholarship Successor Advisors?
@JaninneNocco Thank you for your reply! Can you describe what successor advisors on scholarships are able to do at your Foundation? Are they able to change how the fund operates and eligibility requirements? Or are they able to sit on the selection committee, receive statements, etc? Or some combo of those?
Re: Scholarship Successor Advisors?
Greater Lowell Community Foundation allows successors to be added at any time. This helps with getting the younger generation involved in philanthropy.
